Without equipped the best Magento inventory management extension ever, how can you imagine trying to run a business, whereas not knowing how many widgets you have in the inventory?
Or when you need to make a trade without knowing exactly where they are? Even worse is not having enough in-hand to complete the purchase and losing the customer to a competitor.
Importance of Magento Inventory Extension
The value of conventional inventory management can’t be emphasized enough these days.
A good inventory system will implement high visibility of items right down to the counter in multiple locations, if essential.
Success in e-Commerce depends on rigorous and efficient stock management. The key factor at hand is the capacity to track your inventory in real-time.
For many businesses, physical inventory is their biggest expense. Accurately managing this Magento inventory management extension could mean the difference between flourish and failure.
Ask yourself if transfers of inventory between locations are instantly, simply, effectively and accurately recorded.
Then, this answer will reveal a lot about how well your system is actually working and what you immediately need the most.
Magento Inventory Extension Saves Your Time
An inventory management system with the best Magento inventory management extension equipped saves you time.
If you are still operating inventory manually, this means that you need to reconcile sales receipts with your physical inventory by hand.
Depending on the scale of your company and the number of outcomes you sell, you certainly will realize how much time this task can cost.
With an integrated inventory management system that combines financial accounting, master inventory and point-of-sale (POS) system, the processes become automatic and irrelevant.
At the end of the day, all a manager needs to do is print out the report, where you can detect which stock needs to be replenished at a glance.
Inventory Planning Reduces Storage Cost
Approximately 81% of consumers experienced an “out-of-stock” situation in the past 12 months, resulting in lost sales for enterprises and a lot of disappointment for in-store shoppers.
Globally, retailers reported losses of a whopping $1.75 trillion due to under control inventory.
You will be able to plan accurately when you have better control of the levels of your stock.
With proper inventory management software as Magento inventory management extension, you will be able to stay ahead of annual varieties, followed by stock up on the appropriate amount of products for high demand curves.
Warehouse Space Better Utilization
The benefits of inventory management affect management strategy that supports organizational warehouse in attaining better space management.
If you have an unorganized warehouse, you would always find it challenging to handle your inventory effectively.
Performing this process aids speed up the order fulfillment and preserves customers’ happiness.
For instance, several manufacturers choose to enhance their warehouses by arranging higher selling outputs together in areas that are effortlessly accessible within the warehouse.
Future Planning and Forecasting
The inventory extensions can also help you enhance demand tendency predicting by analyzing data trends from well-performing stocks.
This equipment, besides, minimizes your holding and handling costs, improve revenues, and frees up cash flows.
Also, by planning and forecasting as an ideal entrepreneur – you deliver on customer expectations better.
5 Best Magento Inventory Extensions (1.X.X – 2.X.X)
Magento inventory management extension free will lack many functions! Although there are many pioneers searching for the Magento 2 Inventory Management Extension FREE, we would like to recommend that “you get what you pay for”!
If you desire to grow profits for your enterprise with the Magento inventory management extension, then you should arrange a proper amount to get back the most effective utilities.
Below is a glance of key features of the top 5 best Magento Inventory Extensions including in a grid. Followed are the details of those 5 products.
| Order | Vendor | Key features | Price |
|---|---|---|---|
| 1 |
| $59.00 | |
| 2 |
| $119.00 - $199.00 | |
| 3 |
| $499.00 | |
| 4 |
| $150.00 | |
| 5 |
| $399.00 |
#1. BSS Commerce Magento Inventory Extension
In Magento 2, many ways can affect the product quantity, but default Magento 2 does not keep tracking of inventory adjustment.
Hence, it will be convenient for the store developers if having a feature helping to know how and when the product stock was modified. Inventory Report for Magento 2 extension is a simple but handy tool that allows admins to follow all the changes in product quantity.
Furthermore, BSS Commerce is a very reputable company for Magento Extension products that you can trust in the quality and support for installation and use. Give it a try!
Key features
- Compatible with Magento 2.X.X
- List every stock adjustment of each product
- CSV file exporting
- [NEW] Support logging product stock changes via REST API
- Easily delete inventory logs in the grid
Price | $59.00
#2. MageMob Magento Inventory Extension
MageMob Inventory is one of the best Magento Inventory Extension that helps you to manage a variety of aspects of your Magento Inventory along with the backend from mobiles and desktops.
You can manage suppliers, warehouses, product stocks, orders purchases, sales orders.
Besides, you can provide customers the details with sales reports, manage customer reviews, notifications of important events.
If you want a Magento Inventory Management application that enables you to manage the backend of your E-store 24/7, you have come to the right place!
Key features
- Compatible with both Magento 1.X and Magento 2.X
- Available for both Android and iOS.
- Multi-store Support
- Efficient Supply Chain
- Easy Configuration
- Product & Review Management
- Instant Push Notifications for Different Actions
- Sales Order Details through Interactive Charts
- Live Synchronization
Price | $119.00 – $199.00
#3. Magestore Magento Inventory Extension
“When we made the choice we wondered why you would pay a monthly fee when it is all here and in a way you can bespoke build piece by piece to fit your needs” is the feedback of one of the Mage Store customers due to its powerful extension.
This extension out of the best Magento Inventory Extensions is built to fit your business needs which include a wealth of helpful tools, equipment, and even the detailed user guides.
Key features
- Edit, customize, assign inventory inline
- Quickly and simply implement
- Auto-forecast the stock
- Provide API connecting with other systems/extensions
- Assist multiple warehouses for your store
- Multi-channel & Multi-location inventory sync
- Enhance stock visibility with barcodes
- UI/UX design optimization with a friendly interface for the store
Price | $499.00
#4. Wyomind Advanced Inventory Magento 2
Ranking in the top list of Google search bots for the best Magento inventory management extension, certainly Wyomind Advanced Inventory Magento 2 Extension has captured the hearts of many of the most potential and even the most fastidious and demanding customers.
With Wyomind extension, you can define an unlimited number of stock levels for each product, automatically synchronize the POS inventory in your Magento inventory, automatically dispatch your orders using country codes or ZIP code.
Key features
- Compatible with both Magento 1.X and Magento 2.X
- Manage your warehouse easily
- Follow all your warehouses with just one-click
- Monitor the dropshipping exactly
- Transfer permissions for every stock
- Easy to keep track of reports
- Clearly display the stock levels and the pos on the frontend pages
- API to remotely manage different stocks from a third party software
- [NEW] Enable the stock movement journal
Price | $150.00
#5. Amasty Magento 2 Inventory Management Extension
With the Amasty Magento 2 Inventory Management Extension, you can create as many warehouses as you need.
Stock locations define the offline shops’ inventory tracking, and a virtual warehouse creation for defective products to be sent back to the manufacturer is all available for you to customize and develop the website freely.
Distribute your Magento inventory among the warehouses, keep all stock information at hand, and edit all stock values right on the grid are also interesting features.
The extension is based on the Multi-source Inventory launched with Magento 2.3 Commerce and Open Source platform, therefore it is compatible with Magento 2.3 and higher versions.
Key features
- Easily create multiple warehouses
- Manage stock right from the product grid
- Smart algorithm
- Create shipments with just one click
- Custom shipping methods and rates setup
- Install separating orders from different storehouses
Price | $399.00
Concluding Thoughts
Inventory management gradually has become vital for the durability of any industry.
Without proper control over your inventory using the best Magento Inventory Extension, the day is not far when you become under the supervision of your profits.
Don’t let inventory overflow or deficiencies decide your future. Invest in a good inventory management solution right now!
